88. Cytix

Cyberattacks are becoming increasingly sophisticated, but Cytix offers hope for small businesses seeking to protect their digital assets.

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Founders: Thomas Ballin, Ben Armstrong, and Matt Milan
Year founded: 2022
Website: cytix.io

Small businesses have more than enough challenges to contend with. A cost of living crisis, an inflation rollercoaster, hiring challenges and a lack of access to capital have made for a rough few years for the business community. On top of that, there’s a further looming threat – cyberattacks. It may not make the headlines as often as the economy, but it’s still one of the most pressing challenges facing businesses today.

In recent years, there has been a sharp increase in the number and severity of cyberattacks and data breaches, and businesses of all sizes are at risk. Worse still, it’s typically only the largest businesses who can afford the most sophisticated digital security support.

Deep-dive approaches to company cybersecurity, such as penetration testing (pentesting), are time-consuming and expensive. This can make it difficult for small businesses with stretched budgets to understand where they’re most vulnerable.

Cytix is here to democratise access to best-in-class cybersecurity risk assessment.

Cytix is here to democratise access to best-in-class cybersecurity risk assessment. Founded by Thomas Ballin, Ben Armstrong, and Matt Milan, Cytix is a unique vulnerability management platform.

Ballin and Armstrong are both former ethical hackers, while Milan has a background in software development. This combination of experience gives Cytix a deep understanding of the challenges facing businesses today and the solutions that are needed to address them.

Cytix is addressing this problem by providing a more agile and cost-effective way to manage vulnerabilities. The company's platform uses automation to identify and prioritise risks. Then, expert human analysts validate and remediate them.

Following its initial pre-seed investment, Cytix brought its early-stage product to prospective customers in large banks, accountancy firms and insurance companies, getting the crucial validation it needed

Its initial target market is businesses in the medical and financial sectors. It’s a canny customer group, as these businesses have the most to lose in the event of customer data hacks or other security breaches. Following its initial pre-seed investment, Cytix brought its early-stage product to prospective customers in large banks, accountancy firms and insurance companies, getting the crucial validation it needed.

But, the Cytix approach could see smaller sized businesses worldwide welcome cost-effective security pentesting.

One thing that makes the Cytix model accessible is its subscription-based pricing. This makes it more affordable for small businesses. Plus, a user-friendly customer service support ethos means that a team of experts is available 24/7.

The cybersecurity market is ripe for disruption. Off-the-shelf brand names such as Norton and Kaspersky dominate day-to-day protection. Meanwhile, high-cost pentesting security options are the preserve of enterprise businesses with the deepest pockets. Cytix sees things differently, and we’re excited to welcome it to the fold of our Startups 100 businesses.

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